KYIV, Jan 25 – The National Bank of Ukraine (NBU) has decided to keep the key policy rate at 15% per annum and expects it to decrease slightly from the second half of 2024.

"Taking into account the balance of risks, the need to safeguard exchange rate sustainability and to maintain moderate inflation in 2024, which in 2025 will be brought to its 5% ± 1 pp target range, the NBU Board decided to keep its key policy rate and other interest rates on its operations unchanged," NBU Governor Andriy Pyshnyy said at a briefing on Thursday.

At the same time, he added that the baseline scenario of the NBU's forecast, which assumes that Ukraine will receive sufficient international financing and that security risks will subside from next year, provides for a slight reduction in the key policy rate starting in H2 2024.